The CIOT and LITRG have responded to the Welsh Government consultation on Appropriate mechanisms for making changes to the Welsh Tax Acts.
From April 2024 sole traders and partners in partnerships are being taxed on a tax year basis even if they prepare their accounts over a different period. This change is known as basis period reform (BPR).If you were affected by BPR this article explains why you may want to revisit your 2023/24 tax ...
The Low Incomes Tax Reform Group (LITRG) is reminding gig workers and side hustlers to check if they need to complete a self assessment tax return for the 2024/25 tax year and register with HMRC by the 5 October deadline if necessary.
The threshold for when you need to start repaying your student loan can change every April (at the start of the tax year). If you are employed and making loan repayments through the tax system, then you should check your payslip to make sure the correct repayment has been deducted.
LITRG has responded to a recent HMRC and Department for Business and Trade consultation on the use of electronic invoicing.
As the 2024/25 tax year has just ended, some self-employed individuals and partnerships will be starting to complete their tax return. There has been a change in the tax rules about how you disclose your accounting information to HMRC on your tax return. This article briefly explains the changes ...